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Top Conversational AI Companies

Published
Published Date : Jan 2023
Author : Pratibha Bhattacharjee
Biography : Sr. content writer at Brand Essence Market Research. Passionate about content curation in the market research vertical. Always striving to create reliable and engaging industry-based content.

Conversational AI is termed as a type of advanced AI based technology equipped with the ability to interact with users by understanding, processing, and responding to their language. It is being deployed in a wide array of sectors with an aim to enhance consumer experiences. 

Here are the top 15 companies influencing the ongoing trends of this business sphere-

Open AI (ChatGPT)

Market Position or History

  • In November 2022, Open AI launched its advanced text-based chatbot, ChatGPT. It is a conversational AI based chatbot equipped with intelligent features enabling it to facilitate humanlike conversation.  

Business Overview and Strategy

Established on December 11, 2015, Open AI is a non-profit artificial intelligence research organization. The primary founders of this firm are Elon Musk and Sam Altman. Although Musk announced his resignation in 2018 but is still one of the major donors of the company. Headquartered in San Francisco, the company has developed various AI based software and applications.  

Open AI launched the ChatGPT, a conversational AI based chatbot in November 2022. The introduction of this powerful entity has enhanced the portfolio of this company. It is worth noting that the organizations aim at developing friendly and efficient AI based entities that can be highly beneficial for the mankind. Being a non-profit organization, the company garner revenues by charging developers who license its technology.  

Google

Market Position or History

  • In May 2018, Google announced the development of its conversational neutral language model system, LaMDA. This AI bot is content specific, sensible, and interesting which in turn is allowing it to gain widespread popularity.  

Business Overview and Strategy

Google LLC was established on September 4, 1998, by Sergey Bin and Larry Page. Its headquarters are located in Menlo Park, California. It is emerged as one of the most prominent search engine entities. Apart from that, the company has diversified its portfolio across sectors such as e-commerce, AI, online advertising, cloud computing, computer software, consumer electronics, and quantum computing, among others.  

The company’s primary mission is to make internet surfing accessible and easy for the masses. It’s prime focus is to enhance the experience of its users. Google has also pioneered in the Conversational AI vertical. It released its first chatbot named Google Assistant based on the same technology. With extensive R&D activities, the company has strengthened its grip overall various technological facets.  

Microsoft Corporation

Market Position or History

  • In 2014, Microsoft launched its first AI-powered Virtual assistant, Microsoft Cortana. It is typically designed to respond to the commands of the users.  

Business overview and Strategy

Established in April 1875 by Paul Allen and Bill Gates, Microsoft Corporation is a technology-based organization focussing on producing personal computers, computer software, and consumer electronics, among others. The company has always believed in developing and imparting technologies that can bring a difference in the lives of the masses.  

The company is presently striving to solidify its offerings in the field of artificial intelligence-based entities. In fact, it has announced its decision to invest USD 1 billion in OpenAI- the company which introduced ChatGPT. Through this investment, Microsoft plans to offer ChatGPT to the customers of its cloud computing platform, Azure.  

Amazon Web Services, Inc.

Market Position or History

  • In December 2022, Stability AI, a prominent open-source artificial intelligence provider announced to have selected the Amazon Web Services (AWS) as its cloud provider to boost its ongoing activities pertaining to the development of open source generative AI models. The AI models will specifically cover areas like 3D, image, video, language, and audio content generation.  

Business Overview and Strategy

Founded in March 2006, Amazon Web Services is a subsidiary of e-commerce giant Amazon.com, Inc. It is known for providing APIs and on-demand cloud computing platforms to individuals users, companies, and governmental organizations on a pay-as-you-basis. It aims at making clouding computing solutions affordable and easily accessible to the masses.  

It’s core competitive advantage revolves around three major entities, i.e. price, range, and convenience. The company also offers a wide range of machine learning and artificial intelligence-based services. AI services offered by AWS can be easily integrated with various technological applications.  

IBM

Market Position or History

In 2010, IMB launched its AI based question-answering computing system. It is equipped with the ability to answer important queries in natural language. This supercomputer system is developed with an amalgamation of a sophisticated analytical software and AI technology.  

Business Overview and Strategy

The International Business Machines Corporation (IBM) was established by Thomas J. Watson, Herman Hollerith, and Charles Ranlett Flint in June 1911. Its pioneers in developing software, middleware, and hardware components. Apart from that, it is also known for providing consulting and hosting services in domains such as nanotechnology and mainframe computers. It has also gained the recognition of being the world’s largest industrial research firm.  

IBM believes in using technological entities to bring out the best in its users. It focuses on innovation which has helped it to diversify its offerings to a broad range of verticals. With extensive emphasis on its R&D activities, IBM has also strengthened its grip in the artificial intelligence dynamics.  

Oracle

Market Position or History

  • In January 2023, SymphonyAI inked a partnership deal with Oracle. Under the terms of this agreement, AI solutions created by Symphony will be made available to the users or the Oracle Cloud Infrastructure.  

Business Overview and Strategy

Oracle Corporation was established in Austin, Texas in June 1977. Its primary founders are Ed Oates, Larry Ellison, and Bob Miner. It went on becoming one of the world’s largest computer software  companies. The companies offer a plethora of products and services pertaining to data-based technology and software.  

The company believes in making use of computer based data or  resources to unlock new opportunities. It has always adopted and worked on innovating efficient technologies to make lives easier for the end users. To mark its entry in the field of AI, it developed a solution called OracleAI to offer user friendly Artificial Intelligence services to the masses.  

Nuance Communications, Inc.

Market Position or History

  • In May 2022, Nuance inked a partnership deal with The Health Management Academy. This partnership allows both the organizations to co-develop an AI Collaborative with an aim to boost the deployment of AI based technology in the healthcare vertical.  

Business Overview and Strategy

Established in 1992, Nuance Communications Inc. is a subsidiary of Microsoft Corporation. It is known for developing high end computer software technologies. It is also  known for marketing efficient AI and speech recognition software.  

The company has managed to emerge as a pioneer in the conversational AI vertical. It believes that AI technology can make everyday work and life easier for the masses. Most of the AI solutions developed by the firm are equipped with the ability to understand, assess, and respond to human queries and commands in a natural way.  

FIS

Market Position or History

  • In June 2017, FIS announced the launch of its first series of AI-based risk solutions named FIS AML Compliance Hub for the financial services sector.  

Business Overview and Strategy

Fidelity National Information Services, Inc. (FIS) was established in 1968. Headquartered in Florida, United States, the company provides a plethora of financial products and services. It is known for developing innovative financial technologies to enhance consumer experience.  

FIS focuses on offering hind end solutions and services pertaining to retail and institutional banking, asset and wealth management, digital payments, along with risk and compliance, among others. It focuses on powering the world’s economy through its robust and secured financial services.  

SAP SE

Market Position or History

  • In May 2022, digital transformation solutions company UST inked an OEM agreement deal with SAP. This agreement will allow UST to amalgamate SAP’s business technological platform, SAP BTP) with its Cogniphi AI Vision platform.  

Business Overview and Strategy

Based in Walldorf , Germany, SAP SE, was established in 1972 by Dietmar Hopp, Hans-Werner Hector, Hasso Plattner, Klaus Tschira, and Claus Wellenreuther. It pioneers in the development of enterprise software enabling companies to efficiently manage customer relations and business operations. Apart from that, it also develops innovative cloud computing entities and business software while also offering consulting services.  

The company has been using AI technology make advanced modifications in its existing portfolio to enhance their features. Its primary vision is to push people to make better use of technology and transform their lives. Through its advanced solutions, it strives to help businesses and individuals achieve social progress and economic development.  

Avaamo

Market Position or History

  • In May 2022, Avaamo announced the launch of its conversational AI based virtual assistant, AvaamoHR with an aim to support HR leaders to optimize their hybrid workforce more efficiently.  

Business Overview and Strategy

Avaamo was established in 2014 by Sriram Chakravarthy and Ram Menon. It is a deep learning software company that focuses on offering conversational AI based interfaces to solve enterprise-based problems. It believes that its conversational AI technologies will bring in major developments across various verticals.  

Rasa Technologies Inc.

Market Position or History

  • In 2016, Rasa raised a funding of USD 26 million in series C funding round led by Andreessen Horowitz.  

Business Overview and Strategy

Founded in 2016, by Alan Nichol and Alex Weidauer, Rasa Technologies Inc. pioneers in developing efficient conversational AI platforms. It uses its innovative resources to build, enhance, and optimize enterprise grade voice and text-based AI assistants.  

Rasa believes in powering its users with the most advanced conversational AI solutions. It further strives to make this high end technology affordable to the consumers.  

Solvvy Inc.

Market Position or History

  • In May 2022, Zoom Video Communications Inc. announced its decision to acquire Solvvy. This deal will enable both the companies to enhance their consumer experience by integrating innovative  AI based technology in verticals like customer support.  

Business Overview and Strategy

Solvvy Inc. was formed in 2013 by Mahesh Ram, Mehdi Samadi, and Justin Betteridge. It is predominantly a machine learning startup focussing on the use of conversational AI based technology to help businesses reduce their operational costs.  

It has developed next generation chatbot and automation platforms to enhance consumer experience.  

Pypestream

Market Position or History

  • In February 2022, Pypestream inked a strategic partnership deal with DealerOn. Under the terms of this agreement, both the companies will jointly develop and launch a digital assistant named Cyrus which will be the first conversational AI solution for the automotive industry.  

Business Overview and Strategy

The company was established by Richard Smullen in 2015. Headquartered in New York City, it is known for providing efficient self-service platforms to its end users. Most of its platforms are integrated with a conversational AI based engagement interface known as Pype. 

Pypestream is known for integrating the AI based natural language understanding technology with widget-powered GUI to support activities such as gestures, swiping, and pointing across its platforms.  

Kasisto

Market Position or History

  • In August 2022, Kasisto generated a funding of USD 15.5 million in Series C financial round led by Fidelity Information Services LLC.  

Business Overview and Strategy

Established in 2013 by Ruth Brown, Dror Oren, Sasha Caskey, and Zor Gorelov, Kasisto is a renowned conversation AI platform operator. It is aimed at bringing market defining AI customer experience enhancement technology to its end users.  

It is known for developing the intelligent digital banking assistant named KAI. The company strives to make banking activities easier for the masses as well as the related organizations through the use of AI technology. It believes in empowering financial institutions with widespread AI based technologies so as to allow them to provide humanizing digital experiences  to their consumers.  

Baidu

History or Market Position

  • In July 2017, Baidu, Inc. announced the acquisition of Kitt. ai to enhance is conversational ai platform portfolio.  

Business Overview and Strategy

This Chinese technology based MNC was established in 2000 by Eric Xu and Robin Li. It vast portfolio consists of AI based entities and internet related products and services. 

It is emphasizing on the development of natural language technology-based platforms and chatbots. Baidu has recently unveiled various products and services in this category. It is regarded as one of the early adopters of Artificial Intelligence.

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